Onate

What Onate does

Onate DAC is an Irish non-bank property lender founded in 2021 and headquartered at 26/27 Upper Pembroke Street, Dublin, with a regional office opened in Madrid in early 2024. The company provides short-term bridging loans (€250k–€5m, up to 75% LTV, terms up to 36 months) and, since July 2025, longer-term loans against residential, mixed-use, and commercial properties across Ireland and Spain. Core products are delivered to property investors, promoters, developers, and SME owners using investment property as collateral, with the borrower required to be a corporate vehicle (SPV). The lending model is differentiated by fully in-house credit decision-making, enabling term sheets within 24–48 hours and deal completions in as little as five days, supported by a digital application portal and a strategic partnership with Irish property technology platform Offr that automates 90% of property transaction processes. Revenue is generated primarily through interest income on bridging and term loans (interest-only, rolled or monthly), with pricing tailored to deal specifics rather than publicly disclosed rates.

Onate's business model is a relationship-based, sales-led origination engine combining a direct in-house lending team in Ireland and Spain, an introducer/broker network of solicitors, accountants, and financial advisors, and ecosystem partnerships with valuation firms (Artis) and property platforms (Offr). The company has cumulatively deployed over €210–250m across 300–350 loans since launch, making it one of Ireland's most active non-bank lenders. Funding is sourced through a diversified institutional stack: a €100m secured note programme listed on the Vienna Stock Exchange MTF (€22m drawn at launch in July 2023), a €50m NatWest facility (November 2023, since refinanced), a Triple Point senior facility, and most recently a €75m private warehouse securitisation facility with Citi announced in November 2025. The Onate Group comprises multiple wholly-owned Irish entities (Onate Lending DAC, Onate Capital Limited, Onate Finance entities) structured to support the lending platform and securitisation activities.

The company is led by CEO Dan Gandesha with co-founder Christian Faes, alongside a leadership team drawn from Anglo Irish Bank, Finance Ireland, Colliers/Irea, and PwC. Headcount sits in the 11–50 range, with growth concentrated in Spain (Javier Redondo, Luis Guirao, Evelina Raykova) and the Irish underwriting and portfolio management functions. Onate's strategic trajectory in 2024–2025 — Spanish market entry, term loan product launch, and progression to a Citi-backed warehouse facility — signals a deliberate shift from a pure-play Irish bridge lender to a multi-geography, multi-product non-bank lending platform.

Name

Onate

Legal name

Onate DAC

Website

https://onate.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Onate is an Irish non-bank property lender founded in 2021, providing short-term bridging loans and term loans (€250k–€5m) to property investors, developers, and SME owners across Ireland and Spain, with in-house credit decisions enabling deal completions in as little as five days.

Ownership category

akta.pro rank

Product category

Specialty Property Lending

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Mortgage Bankers & Loan Correspondents (6162), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

CRE Bridge & Transitional Lending (FSALADAC)

akta.pro secondary industry

Lending & Credit Disbursements (FSAMAKAH)

Keywords

• Property bridging loans
• Short-term property finance
• Residential bridging lending
• Commercial property loans
• Term loan financing

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Bridging Loan Interest: Onate earns interest income on short-term bridging loans secured against residential, mixed-use, and commercial properties. Loans range from €250k to €5m with terms up to 24-36 months. Interest is typically rolled up or paid monthly, with interest-only structures common. This represents the primary revenue stream.
2. Term Loan Interest: Longer-term financing products for stabilized income-producing properties. Following successful bridging loan periods, borrowers may transition to term loans with lower interest rates. This provides ongoing interest income from the loan book.
3. Bond Programme Income: Onate operates a €100m secured note programme listed on the Vienna Stock Exchange MTF. This provides institutional funding capacity and generates income through the spread between bond yields and loan returns.
4. Warehouse Securitisation: Private warehouse securitisation facility with Citi enabling the company to fund its loan book through institutional capital markets. Revenue generated through the spread between securitisation costs and loan yields.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Onate is a non-bank property lender that provides short-term bridging loans (€250k to €5m, up to 75% LTV, up to 36-month terms) and longer-dated term loans secured by first-charge mortgages over residential, mixed-use, and commercial properties in Ireland and Spain. Loans are processed end-to-end on an in-house technology platform with credit decisions made internally, enabling term sheets within 24–48 hours and deal completions in as little as five days for use cases including auction purchases, equity release, debt settlement, refurbishment, and bridge-to-sale/refinance.

Product overview

Onate is a property bridging lender offering two core lending products: Bridging Loans and Term Loans. The Bridging Loan product provides short-term financing (€250k to €5m, up to 75% LTV, terms up to 36 months) for residential, mixed-use, and commercial properties across Ireland and Spain. The Term Loan product, launched in mid-2025, serves as a longer-term financing solution for stabilised income-producing properties, enabling borrowers to transition from bridging to permanent funding. Onate's funding is supported by institutional programmes including a €100m Bond Programme listed on the Vienna Stock Exchange and a €75m warehouse financing facility with Citi.

Differentiator

Problem solved

Functional benefit

Products and services

• Bridging Loans Short-term property bridging loans for residential, mixed-use, and commercial properties across Ireland and Spain, ranging from €250k to €5m at up to 75% LTV with interest-only payments and terms up to 36 months. No early repayment penalties after 90 days; in-house credit decisions enable term sheets within 24–48 hours and completions in as little as five days. Targeted at corporate borrowers (SPVs and limited companies, including newly incorporated) for uses such as auction purchases, equity release, debt settlement, refurbishment, and bridge-to-sale/refinance.
• Term Loans Longer-term financing for stabilised, income-producing commercial and residential investment properties, designed for borrowers transitioning from Onate bridging finance to permanent funding. Structured flexibly with fixed or variable rate options, no breakage costs on fixed-rate products, and up to 100% of renovation funding available depending on estimated completed value. Typical use cases include portfolio acquisitions, equity release for new or non-property purposes, refinancing of expiring term loans, trading-asset refinancing, and bridge-to-term conversions of prior Onate bridge facilities.

Quantifiable outcome

• Deals completed in as little as 5 days
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered minor and strategic.

• Artis (Property Valuers)minorImplementation/ SI/ Consulting Partner · 1 September 2022Artis provides property valuation services for Onate's lending process. Managing Director Richard O'Neill contributes to Onate's blog on efficient property valuation practices.
• OffrstrategicTechnology or Integration · 2 August 2022Partnership with Offr, an Irish property technology platform, enables integrated property purchase and bridging finance. Offr's platform automates 90% of property transaction processes including registration, offers, contract signing, and deposits. Onate is positioned as the financing partner for Offr users needing bridging loans.
• CKS FinanceminorStrategic or Co-development Partner · 8 July 2021Collaboration with CKS Finance, a regulated financial advisor, for debt settlement transaction referrals. CKS Finance writes educational content on debt settlements in collaboration with Onate.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Dilosk: Irish specialist mortgage lender (Dilosk DAC) that originates and services buy-to-let and bridge loans, often via securitisation. Closest direct peer to Onate in Irish bridge and specialist mortgage lending.
• Hope Capital: UK specialist bridging and development finance lender. Comparable short-term property lending product set, distribution model, and target customer as Onate.
• ICS Mortgages: Irish mortgage provider owned by Bank of Ireland Group, active in residential and buy-to-let lending. Competes with Onate for the same property-investor customer base in Ireland.
• Zorin Finance: Irish bridging and development finance lender targeting property investors and developers. Direct niche peer to Onate's Irish bridge book, with overlapping introducer networks.
• Finance Ireland: One of Ireland's largest non-bank lenders offering mortgages, bridging, and SME loans. Direct competitor in the Irish property bridging market, and the former employer of Onate's Underwriting Director Hugh Lyons.
• Market Financial Solutions (MFS): UK-based specialist bridging lender known for fast, in-house credit decisions and broker-led distribution. Highly comparable to Onate in operating model and customer profile.

Broad incumbents

• Together Financial (formerly Together Money): Large UK specialist lender with a major short-term bridging and property finance business. Comparable business model to Onate (specialist, speed-led, property-secured), but at much greater scale and broader product set.
• Shawbrook Bank: UK challenger bank specialising in property-backed lending, including bridging and buy-to-let mortgages. Comparable asset class to Onate, but operating at significantly larger scale and broader product set.

Emerging players

• Avant Money: Irish challenger lender (formerly owned by Permanent TSB) offering mortgages and personal loans. Adjacent to Onate in the Irish non-bank credit market, with overlap on the property-buyer customer base.

Regional players

• HipoGes: Spanish asset management and servicing platform active in real-estate-backed credit and NPL portfolios. Most relevant on-the-ground Spanish peer for Onate's Madrid expansion into property-secured lending.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Onate